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Crisis management

Crisis management is a special field of business, its tools and methods must be used when the owners. managers - even due to their own personal involvement- are unable to find the right solution for the company's survival in the case of a serious crisis, or simply fear taking drastic steps. Such a corporate life situation can be e.g.:

• continuous or drastic decrease in revenues or profitability, rapid deterioration of the company's liquidity position, emergence of operational cash-flow problems
• if a business that is growing or transforming too fast is unable to adapt to change
• the company cannot adapt the operation to new market challenges, the existing management tools the operating methods is not enough already,
• vis major cases, external influences that make the company unprepared and threaten serious losses.

In these cases, the application of a crisis management methodology helps, the appointment of a crisis manager(s) who “take over” the management of the company for a certain period of time, their purpose is to save the company and restore operation and profitability. Crisis management differs from normal management, it is needed immediately, requires profound changes and sometimes requires drastic decisions. It is advantageous to employ a crisis manager with a neutral, external eye who is able to evaluate the company and business situation objectively and who does not have a past or involvement in the company. In this way the necessary transformations can be implemented more smoothly. Every step that is unusual in a given organization, tough decisions will be done by him/her, he/she has to accept them with the staff.

As part of our crisis management service, keeping the interests of the owners in mind 

• explore the causes of the crisis in a process and financial review,
• based on this set up the crisis plan, we participate in the preparation and making of the necessary decisions
• prepare related short- and medium-term business and financial plans
• during the process constantly monitor and keep the company's core values, key employees, customers, business partners, assets
• prepare and carry out communication related to crisis management.

The crisis management process can only be successful if the owner is maximally committed to its implementation, if it follows realistic goals and the resulting operational model is sustainable.

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